The Uniform Residential Loan Application (URLA) form for the mortgage industry is undergoing change for the first time in 20 years. The GSEs (Fannie Mae and Freddie Mac) will require the use of the redesigned URLA by all lenders, for all new loan applications by February 2020, and the industry may begin using the redesigned URLA starting July 1, 2019. If not planned already, lenders should be in the final phases to prepare for the new URLA and its impact on systems and organizational change management.
We at Wipro Gallagher Solutions, are focused on educating our customers, partners and prospective clients on the significant impacts that the new URLA may have on their organizations.
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